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EUR/GBP Forecast January 4, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 4, 2017, 04:05 UTC

EUR/GBP traders had a volatile session on Tuesday, as we continue to bounce around the 0.85 handle. I believe that this market will continue to go

EUR/GBP daily chart, January 04, 2016

EUR/GBP traders had a volatile session on Tuesday, as we continue to bounce around the 0.85 handle. I believe that this market will continue to go sideways is both currencies have their own problems. I do believe in the longer-term negative story, but right now I don’t have anything compelling on this chart telling me that I should be involved. Because of this, I will remain on the sidelines but of course keep you abreast as to what I see here at my FX Empire terminal. Ultimately, this is a market that should make some type of decision, but with all of the uncertainty in the European Union and of course the United Kingdom, it doesn’t make sense to see a massive move.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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